If you believe in a Bitcoin only future, a future of freedom and decentralisation, then this is for you.
To enable Bitcoin only mode (Enabled by default):
- From the bottom menu, tap Profile
- Toggle the switch to on for Bitcoin Only, hiding the altcoins
- Enjoy a Bitcoin only experience at Cape Crypto 😎
Why would I hide the altcoins?
While there are thousands of altcoins, each with their own unique value proposition, it's crucial to understand that they are fundamentally different from what Bitcoin is.
Bitcoin was designed, and purpose built to be an antidote to the potential perils and pitfalls of central banking, to protect individual sovereignty, defend against tyranny, and prevent inflationism (which many regard to be an additional hidden tax that makes those holding fiat currency poorer year on year simply for holding fiat). Bitcoin can be regarded as the financial equivalent of the United States' second amendment.
"Altcoins" like Ether, XRP, and USDC, while similar in that they are digital currencies with their own tokens and value, diverge significantly in their fundamentals from Bitcoin.
Altcoins have distinct purposes and mechanisms that set them apart from Bitcoin. For example, the Ethereum network, which is powered by Ether, is designed as a platform for building decentralized applications and smart contracts. This adds a layer of functionality beyond what Bitcoin was initially designed to do. Similarly, XRP, primarily used for cross-border payments, operates on a unique consensus algorithm different from Bitcoin's proof-of-work system - and is centralized under Ripple labs. USDC, a stablecoin (pegged to the US dollar) is centralized under Circle Payments and offers no solutions to the fundamental issues with fiat that Bitcoin addresses.
While each of these altcoins offers an interesting purpose within the broader cryptocurrency ecosystem, its critical to recognise and understand that although they carry the moniker of "cryptocurrency", none of them are in fact comparative alternatives to Bitcoin.
Bitcoin is beautiful.